On Tuesday, Shares of Chesapeake Energy Corporation (NYSE:CHK), gained 1.27% to $6.79, as oil prices rose almost 2 percent on Tuesday, but then pared gains in post-settlement trade after an industry group stated a surprisingly large weekly build in U.S. crude inventories, according to Reuters.
The American Petroleum Institute (API) said U.S. crude stockpiles rose 4.6 million barrels in the week to Sept. 25 to reach 457.8 million barrels. Analysts polled by Reuters had predictable an improvement of only 102,000 barrels. Reuters Reports
“It’s certainly a pretty big build for U.S. oil stocks,” said Chris Jarvis, analyst at Caprock Risk Administration in Frederick, Maryland.
But some investors were encouraged that the API inventory figures also showed a drawdown of nearly 1.2 million barrels at the Cushing, Oklahoma delivery point for U.S. crude futures. Reuters added.
Chesapeake Energy Corporation is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.
Shares of Kinder Morgan Inc (NYSE:KMI), declined -5.08% to $26.15, during its last trading session.
Kinder Morgan declared that its partner, Tennessee Gas Pipeline Company (TGP), has executed agreements with producers, local distribution companies (LDCs) and a New York end-use market participant totaling 627,000 dekatherms per day (Dth/d) for the Supply Path component of the projected Northeast Energy Direct Project (NED). The agreements will provide a direct supply link from abundant natural gas fields in Pennsylvania to existing and future Northeast and New England markets, and firm transport of incremental supplies for delivery at or near Wright, New York. From the Wright area, shippers can deliver into the Market Path component of the NED project for transport to Dracut, Massachusetts, or into TGP’s existing pipeline system or into the Iroquois Gas Transmission system. The incremental gas supplies will assist meet New York and New England’s growing consumer and industrial gas needs, in addition to assisting to bolster electric reliability in the region. TGP is ongoing to negotiate with additional potential shippers on the NED project, counting LDCs and others, and anticipates to declare these commitments and others at a later date.
NED’s Supply Path component, from northeastern Pennsylvania to Wright, New York, is scalable up to 1.2 billion cubic feet per day (Bcf/d), and its Market Path component is scalable up to 1.3 Bcf/d. The NED project, counting the Supply Path and Market Path components, has a planned in-service date of November 2018, subject to regulatory approvals. Additionally, the NED Supply Path component and associated agreements are subject to approval by the Kinder Morgan board of directors.
Kinder Morgan, Inc. (KMI) is an energy infrastructure and energy company in North America. The Company operates through six segments: Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Natural Gas Pipelines segment comprises interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals. The CO2 business segment produces, transports, and markets CO2.
Shares of The Coca-Cola Co (NYSE:KO), inclined 0.35% to $39.67, during its last trading session.
The Coca-Cola Company took another noteworthy step toward building a stronger, more streamlined production system in its flagship market by announcing the formation of a new National Product Supply System (“NPSS”) in the United States. The mission of the NPSS will be to facilitate optimal operation of the U.S. product supply system for Coca-Cola bottlers in order to:
- Achieve the lowest optimal manufactured and delivered cost for all bottlers in the Coca-Cola system
- Enable system investment to build sustainable capability and competitive advantage
- Prioritize quality, service and innovation in order to successfully meet and exceed customer and consumer requirements
Under the new NPSS, three existing independent producing bottlers, Coca-Cola Bottling Co. Merged (“Merged”), Coca-Cola Bottling Company United (“United”), and Swire Coca-Cola USA (“Swire”), in addition to the Company-owned Coca-Cola Refreshments (“CCR”) together with Coca-Cola North America, will be members of Coca-Cola’s National Product Supply Group (“NPSG”). The NPSG will administer key national product supply activities for these NPSS bottlers, which presently represent about 95 percent of the U.S. produced volume.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, improved waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
Finally, American Airlines Group Inc (NASDAQ:AAL), ended its last trade with 0.26% gain, and closed at $39.18.
American Airlines Group will add new service to Merida, Mexico – a new destination for its global network – providing more service to the country than any other American carrier. New service will start on March 3, 2016 to Manuel Crescencio Rejon International Airport (MID) from Dallas/Fort Worth International Airport (DFW).
American is in the midst of more than $2 billion in planned improvements to give customers a superior travel experience around the world. These capital investments comprise fully lie-flat seats; international Wi-Fi; more in-flight entertainment options and power outlets; a new, modern design for Admirals Club lounges worldwide; and an upgraded assortment of complimentary healthy food, cocktails and more. For more information on American’s $2 billion investment, please visit aa.com/goingforgreat.
American is taking delivery of more than 100 new aircraft this year, giving it the youngest fleet of any U.S.-based network carrier. Orders comprise the Airbus A320 and A320neo family, A350-900s, Boeing 737 MAX, 777-300ERs and 787s, which will make American’s fleet even younger, more modern and fuel efficient.
American Airlines Group Inc. (AAG) is a holding company and its wholly-owned auxiliaries comprise American Airlines, Inc. (American), US Airways Group, Inc. (US Airways Group) and Envoy Aviation Group Inc. (Envoy). US Airways Group’s principal partner comprise US Airways, Inc. (US Airways) and its other wholly-owned auxiliaries comprise Piedmont Airlines, Inc. (Piedmont), and PSA Airlines, Inc. (PSA).
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